Cities with cheap houses

5 cities where houses are still cheap – MarketWatch, AnnaMaria Andriotis

Despite rising home prices in many markets, buyers can still find plenty of deals in foreclosures and other distressed properties.

Foreclosures and short sales, where homes sell for less than owners owe on their mortgage, accounted for 43% of residential sales last year, according to data released this week by RealtyTrac, a real-estate data firm. Short-sale purchases increased 4% from a year prior, while sales of homes in pre-foreclosure — that is, in some stage of foreclosure before a home is repossessed — increased 6%.

Fueling these increases are big discounts for the taking. In many markets — including Chicago; Daytona Beach, Fla.; and Santa Barbara, Calif. — buyers were able to purchase distressed properties during the fourth quarter of 2012 at an average discount of 30% to 50% off what they’d pay for a regular, nondistressed home, according to RealtyTrac. In many cases, these discounts are available in markets where real-estate prices as a whole appear to have bottomed out, experts say.

Cheap finds come at a time when many buyers are facing a tightening housing market. Real-estate listings have been dropping, pushing up prices of regular homes in many markets. As a result, listing prices of regular homes have been picking up.

In contrast, with distressed properties, buyers still can save hundreds of thousands of dollars. Working in their favor, in part, is that banks are more willing to unload homes as short sales than in previous years. Some banks are offering homeowners who are behind on mortgage payments cash in exchange for selling the home in a short sale. (Bank of America, for instance, has been offering as much as $30,000 to qualifying homeowners since last year.) That’s led to more short sales selling at a discount. And after years of a growing backlog of foreclosures, more of these listings are hitting the market, says Daren Blomquist, vice president with RealtyTrac, as courts process more of these cases. (Many states require court approval before a home can be repossessed by a bank.)

Experts warn that purchasing a distressed property is not typically an easy process. Buyers could end up waiting four months or longer to find out from a bank whether their offer on a short sale has been approved. And real-estate agents say bidding wars have intensified, with purchase prices of distressed homes often surpassing asking prices. In Charlotte, N.C., for instance, purchases of bank-owned properties (those that the banks have repossessed) increased 109% in the fourth quarter of 2012 from a year prior, according to RealtyTrac. Mike Hege, a real-estate agent with Pridemore Properties in Charlotte, says these homes often receive offers from 20 different buyers. Buyers should also consider the condition these properties are in and how much cash they’ll have to spend for repairs.

Even with such price pressures, buyers can find big discounts on distressed homes in several markets.

Here are five cities where homes are still cheap :

1. Santa Barbara

2. Phoenix

3. Las Vegas

4. Cleveland

5. Charlotte

China: Waiting for a Crisis

China waiting for a crisis : Andy Xie

Government must cut spending or wake up to a messy reckoning

BEIJING (Caixin Online) — Bank loans and money supply rose sharply in January. The timing of the Spring Festival may have distorted the data. Still, there are signs that many local governments with new leaders want to try an old trick, pushing fixed-asset investment (FAI) to create gross domestic product and fiscal revenue. This would turn bank loans into GDP and fiscal revenue.

Local governments are already heavily in debt. Pushing FAI would keep them liquid through new loans. It is essentially a pyramid scheme and can go on as long as the banks are willing and able to lend. But constraints have appeared.

Fiscal Deal doesn’t solve problem

Budget watchdogs extend campaign, say recent fiscal deal doesn't cut it – FoxNews

Budget watchdogs are warning that the hard-fought, highly touted fiscal deal doesn’t cut it – literally.

Sure, President Obama signed a last-minute deal crafted by the Senate and finally passed by the Republican-controlled House that avoided tax increases for most middle-class earners. But the agreement failed to cut the country’s estimated $16.4 trillion debt or resolve other major fiscal concerns, the watchdog groups argue.

American Spending

The Cost of Spending: In search of solutions to America's debt crisis

By Bret Baier | Published December 21, 2012 FoxNews.com

Read more: http://www.foxnews.com/politics/2012/12/21/cost-spending-in-search-solutions-to-america-debt-crisis/#ixzz2FldlmKKC

We're always hearing from politicians about the urgency of the nation's fiscal situation. The debt is over $16 trillion. Deficits -- the annual shortfall -- are persistently north of $1 trillion. 

Those figures are constantly in the background, reminding both parties that whatever the solutions, they need to find and act on them quickly. And the solutions will have to be big -- because the problem is massive.

Turmoil coming

2013 The Final Act – International Forecaster

December 15 2012: Some pretty ugly markets for 2013, our debts are too large to ever be paid, Europe economy is terminal, Spain and Greece are basically in default, the complete breakdown of moral justice flys into high gear in the US, outright looting of the US Treasury going on, the new year will only bring us closer to the fiscal cliff and closer to going over it.

Stocks Bullish for 2013 ?

Why Has Wall Street Gotten So Bullish About Next Year? - CNBC Jeff Cox

Even the bears are bullish for 2013, a year in which virtually every Wall Street expert believes the market will overcome its many headwinds and post a positive year.

The New York Stock Exchange. REUTERS/Brendan McDermidWhile retail investors have been preoccupied with worries over fiscal armageddon, an election that is now past and a global economy nearing stall speed, strategists have been busy with projections that see sizeable stock gains.

Their reasons: A U.S. economy that is on the mend due to the nascent housing recovery and an expected surge in earnings, more cheap money from the Federal Reserve, and a general feeling that none of the various-worst scenarios out there will come to fruition.

(More From CNBC: Efforts to Curb Social Spending Face Resistance)

Republicans: Tax hikes alone hardly dents budget & deficit

Republicans say raising tax rates alone will hardly put dent in budget, deficit - FoxNews.com

Republican congressional leaders, in their battle to extend the current low tax rates for all Americans, drive home Tuesday their argument that ending those rates for families earning more than $250,000 a year would produce only enough money to run the government for less than nine days.

The lawmakers pointed out that President Obama's tax rate plan would generate just $82.3 billion annually, as estimated by the non-partisan Congressional Budget Office. Republicans argue he should be focused on a more balanced approach that includes cuts to federal spending -- including to entitlement programs, such as Medicare, Medicaid and Social Security.

Best states to retire

The 10 best states to retire in

1. Tennessee
2. Texas
3. Louisiana
4. Mississippi
5. Alabama
6. Arkansas
7. Florida
8. Oklahoma
9. Georgia
10. Nevada

Jobs disappointment raises probability of QE3

US jobs data fuels QE3 fire – Financial Post, Jonathan Ratner

Disappointing U.S. job data is providing further ammunition for supporters of another round of outright quantitative easing, as opposed to extending operation twist.

The U.S. labour market added just 69,000 jobs in May, falling well short of consensus estimates of 150,000. More bad news came as negative revisions to the prior three months took out another 49,000 jobs. The unemployment rate edged up to 8.2% from 8.1%.

“This report is a serious boost to QE3 prospects…” said Derek Holt, economist at Scotiabank. “On both headline and details, the Fed’s full employment half to their dual mandate was sharply disappointed here and both in terms of the current month and backward revisions.”

Related

• U.S. job growth sinks to year low

• Global slowdown worsens as China cools, Europe sinks

What is Money

What is Money? A study on Money – Christopher Laird

Money: Any circulating medium of exchange, including coins, paper money, and demand deposits. Dictionary.com

In this piece we discuss what money is, and also money analogs, and make comparisons. We also discuss interest rates as indicators of a healthy economy.

When we discuss money, we discuss what people get for their work. Money is more than a medium of exchange, it is a transferrable unit of work. That is my addition here to that definition. Now, in physics work might be called something a machine does, or what energy can do etc. Gold for instance is directly tied to oil prices because in principle, the work oil energy can do. Hence, oil prices are tied to the king of money – Gold.

I like the definition above mentioning demand deposits. So, a book entry in a bank account such as checking, is a virtual money. These days it’s electronic. Do you remember the days when you had a savings account, and when you made a deposit at the bank, they made an entry into your passbook? So the bank had a record and you also had one, only it was on paper. Interesting no? Of course these days, that kind of method is considered archaic. Electronic money is king now, or is it? Isn’t it?

Stiglitz: Europe’s austerity is suicide

Europe headed towards ‘suicide’ on austerity: Stiglitz – BusinessTimes

NOBEL Prize-winning economist Joseph Stiglitz said Europe is in a "dire" situation as a focus on austerity pushes the continent towards "suicide".

"There has never been any successful austerity programme in any large country," Mr Stiglitz, 69, told reporters in Vienna on Thursday. "The European approach definitely is the least promising. I think Europe is headed to a suicide."

Politicians across the 27 European Union members are implementing austerity measures totalling about 450 billion euros (S$738 billion) amid a sovereign-debt crisis. At the same time the debt of the euro region rose last year to the highest since the start of the single currency as governments increased borrowing to plug budget deficits and fund bailouts of fellow nations crippled by the fiscal crisis.

Best city to live cheaply

The best place to retire overseas on a budget – USNews, Kathleen Peddicord

If an affordable cost of living is your priority in choosing where to retire, take a look at Cuenca, Ecuador. This city is one of the world's best places to retire overseas on a budget.

Cuenca is a beautiful colonial city in an interesting and diverse country. The health care is high quality, honest, and inexpensive. The climate is spring-like and pleasant 12 months of the year. And Cuenca's large and growing expat community is one of Latin America's most diverse and well-blended.

Wealthy cannot escape anymore

Why the party is ending for the rich – USNews, Rick Newman

It has been a great decade to be rich.

Since 2001, high earners have enjoyed the best of all worlds. Tax rates at the top of the income ladder have drifted down to the lowest levels since World War II. Incomes have stagnated for the middle class, but they've continued to rise for the wealthy. And recent policies meant to combat the recession and the 2008 financial crisis have benefited the wealthy more than others.

[See a collection of political cartoons on the economy.]

In the stock market, a "correction" usually sets in when stock values get ahead of underlying fundamentals. Something similar is about to happen to the wealthy.

European economic crisis – the scale

27 statistics about the European economic crisis that are almost too crazy to believe – Economic Collapse Blog

The economic crisis in Europe continues to get worse and eventually it is going to unravel into a complete economic nightmare.  All over Europe, national governments have piled up debts that are completely unsustainable.  But whenever they start significantly cutting government spending it results in an economic slowdown.  So politicians in Europe are really caught between a rock and a hard place.  They can’t keep racking up these unsustainable debts, but if they continue to cut government spending it is going to push their economies into deep recession and their populations will riot.  Greece is a perfect example of this.  Greece has been going down the austerity road for several years now and they are experiencing a full-blown economic depression, riots have become a way of life in that country and their national budget is still not anywhere close to balanced.  Americans should pay close attention to what is going on in Europe, because this is what it looks like when a debt party ends.  Most of the nations in the eurozone have just started implementing austerity, and yet unemployment in the eurozone is already the highest it has been since the euro was introduced.  It has risen for 10 months in a row and is now up to 10.8 percent.  Sadly, it is going to go even higher.  As economies across Europe slide into recession, that is going to put even more pressure on the European financial system.  Most Americans do not realize this, but the European banking system is absolutely enormous.  It is nearly four times the size that the U.S. banking system is.  When the European banking system crashes (and it will) it is going to reverberate around the globe.  The epicenter of the next great financial crisis is going to be in Europe, and it is getting closer with each passing day.

US Tax mayhem

24 outrageous facts about taxes in the US that will blow your mind – Economic Collapse Blog

The U.S. tax code is a complete and utter abomination and it needs to be thrown out entirely.  Nobody in their right mind would ever read the whole thing - it is over 3 million words long.  Each year, Americans spend billions of hours and hundreds of billions of dollars trying to comply with federal tax requirements.  Sadly, it is the honest, hard working Americans in the middle class that always get hit the hardest.  The tax code is absolutely riddled with loopholes that big corporations and the ultra-wealthy use to minimize their tax burdens as much as possible.  Many poor people do not pay any income taxes at all.  The dishonest are rewarded for cheating on their taxes (if they can get away with it) and the ultra-wealthy have moved trillions of dollars to offshore tax havens where they can avoid U.S. taxation altogether.  Our system is incredibly unfair to the millions of hard working people in the middle class and upper middle class that drag themselves out of bed and go to work each day and try to do the right thing.  In addition, the current U.S. tax system is incredibly inefficient, it diverts a tremendous amount of resources away from more valuable economic activities, and it has chased thousands of businesses and trillions of dollars out of the United States.  The U.S. tax code is such a complete and utter mess at this point that it can never be "fixed".  The only rational thing to do is to abolish it completely, and any politician that tells you otherwise is lying to you.

Best cities for trendy people

America’s best cities for hipsters – Travel&Leisure, Katrina Brown Hunt

1. Seattle, WA
2. Portland, OR
3. San Francisco, CA
4. New Orleans, LO
5. Portland, MA
6. Providence, RI
7. Austin, TX
8. San Juan, PR
9. Philadelphia, PA
10. Denver, CO

Fastest Growing US Cities

Fastest Growing US Cities – CNNMoney

#		Population	Growth 2000-2010
1	Charlotte, NC	1,249,449	64.6%
2	Raleigh, NC	884,891	63.4%
3	Cape Coral, FL	530,920	60.8%
4	Provo, UT	482,819	59%
5	Austin, TX	1,362,416	51.1%
6	Las Vegas, NV	1,886,001	43.5%
7	McAllen, TX	728,825	39.3%
8	Knoxville, TN	558,696	33.1%
9	Greenville, SC	400,492	32.5%
10	San Antonio, TX	1,758,210	32.4%

Geopolitics driving markets

Time to watch the geopolitics once again – Dominick Chirihella
Last week was the third week in a row that oil prices declined. As I have discussed on numerous occasions the main price drivers have been geopolitics, fundamentals and the state of the global economic recovery. None of the three price catalysts have been overly bullish over the last few weeks including the number one price mover...the evolving geopolitics around Iran.
Over the last few days the rhetoric has inched up a notch as the April 13th/14th meeting between Iran and the West scheduled for Istanbul moves closer. President Obama tightened up the economic sanctions on Iran's Central Bank in a hope to motivate them to come to the negotiating table with a more open minded view than they had during previous face to face negotiations. Secretary of State Clinton is in the region over the weekend for other meetings and has mentioned to the media that the US is only interested in a strategy of prevention and not a containment policy for Iran. She also went on to say it soon will be clear whether Iran's leaders are prepared to have a serious, credible discussion about their nuclear program. It is up to Iran's leaders to make the right choice. She further warned Iran (via the press) that the window for diplomacy is closing quickly.
I would say that the market is likely approaching a floor (at least temporarily) in oil prices as the 30 second news snippets floating around the media airwaves over the next several weeks are likely to increase the fear and uncertainty level of most market participants. I also believe that the meetings will not result in a black and white peaceful solution with only minimal progress being made. The market may interpret that type of an outcome as one that could result in the Israeli's becoming more impatient and thus increasing the likelihood of some sort of military strike.

China headed for recession?

7 signs China’s headed for a recession – Wall Street Daily, Louise Basenese

Much debate has already transpired over whether or not China – the world’s fastest-growing economy – is headed for a recession.

The most zealous China bulls consider such a possibility sacrilegious. Meanwhile, savvy hedge fund managers – with impressive track records, like Jim Chanos of Kynikos Associates – consider it a certainty.

So how’s an ordinary investor supposed to make any sense of such diametrically opposed viewpoints?

It’s simply, really. Stick to the facts. Specifically, the latest data points coming out of China. And then ask this question: Is this the picture of a country in tip-top economic shape?

Here’s a breakdown of the evidence…

What drives Oil Prices

Infographic – The Facts behind Oil Prices  (click picture for larger view - opens in new window)

Bonds safe or about to plunge?

This “safe” Asset could plummet 18% (or more) over the next two months – Wall Street Daily, Louise Baseness
By now you’d expect that every investor is preparing for a selloff in long-term bonds. After all, the Fed can’t keep interest rates near 0% forever.
Unfortunately, though, such expectations don’t entirely match reality.
Based on the latest fund flow data from Lipper Research, many investors remain enamored with long-term bonds.
In February, they plowed another $30.9 billion into bond funds, the largest monthly inflow since August 2010. And of that amount, $15.8 billion (or about 50%) went into long-term bond funds.
But not every investor is clueless.

Dollar as reserve currency – will it last?

10 reasons why the reign of the Dollar as the world reserve currency is about to come to an end – EconomicCollapseBlog

The U.S. dollar has probably been the closest thing to a true global currency that the world has ever seen.  For decades, the use of the U.S. dollar has been absolutely dominant in international trade.  This has had tremendous benefits for the U.S. financial system and for U.S. consumers, and it has given the U.S. government tremendous power and influence around the globe.  Today, more than 60 percent of all foreign currency reserves in the world are in U.S. dollars.  But there are big changes on the horizon.  The mainstream media in the United States has been strangely silent about this, but some of the biggest economies on earth have been making agreements with each other to move away from using the U.S. dollar in international trade.  There are also some oil producing nations which have begun selling oil in currencies other than the U.S. dollar, which is a major threat to the petrodollar system which has been in place for nearly four decades.  And big international institutions such as the UN and the IMF have even been issuing official reports about the need to move away form the U.S. dollar and toward a new global reserve currency.  So the reign of the U.S. dollar as the world reserve currency is definitely being threatened, and the coming shift in international trade is going to have massive implications for the U.S. economy.

A lot of this is being fueled by China.  China has the second largest economy on the face of the earth, and the size of the Chinese economy is projected to pass the size of the U.S. economy by 2016.  In fact, one economist is even projecting that the Chinese economy will be three times larger than the U.S. economy by the year 2040.

So China is sitting there and wondering why the U.S. dollar should continue to be so preeminent if the Chinese economy is about to become the number one economy on the planet.

Over the past few years, China and other emerging powers such as Russia have been been quietly making agreements to move away from the U.S. dollar in international trade.  The supremacy of the U.S. dollar is not nearly as solid as most Americans believe that it is.

As the U.S. economy continues to fade, it is going to be really hard to argue that the U.S. dollar should continue to function as the primary reserve currency of the world.  Things are rapidly changing, and most Americans have no idea where these trends are taking us.

Nicest Cities in the world

10 Nicest Places to Live

1. Vienna, Austria
2. Zurich, Switzerland
3. Auckland, New Zealand
4. Munich, Germany
5. Dusseldorf, Germany
6. Vancouver, Canada
7. Frankfurt, Germany
8. Geneva, Switzerland
9. Copenhagen, Denmark
10. Bern, Switzerland

What affects Oil Market

Oil Market Dynamics and the Fear Factor – CME Group

Homebuying Financing Mistakes

5 Rookie Homebuying Mistakes & how to avoid them – Fox/HSH, Gina Pogol

With today's unprecedented low mortgage rates and home prices, you may be thinking of making the big leap into home ownership.

If you're a mortgage newbie, don't get caught making an error that could cost you big money. Here are five home financing mistakes that rookie homebuyers make, along with tips on how to avoid them.

1. Getting just 1 or 2 mortgage quotes
2. Not concerned with detailed credit score
3. Dismissing FHA loans
4. Choosing just lowest monthly mortgage payment
5. Fixation on 30-year fixed rate mortgage

Rent or Buy Home

Decision Points: Renting vs Buying a Home – Fox, NewsCore

Whether to rent or buy is a personal decision, with many important factors to consider. Many people prefer the flexibility of renting, and others want to the security of owning their own homes.

To help you choose the right path, here is a guide to the advantages and disadvantages of buying versus renting:

Priciest Cities to Rent

Priciest Cities to Rent – CNBC

#		Rent-Income ratio	Population	Median Household Income
1	New York, NY	52%	11,611,400	$60,161
2	Los Angeles, CA	36%	9,932,100	$55,579
3	San Francisco, CA	33%	1,789,900	$79,076
4	Miami, FL	29%	2,514,200	$45,219
5	Detroit, MI	28%	1,806,100	$36,127
6	Boston, MA	28%	4,576,700	$76,731
7	San Diego, CA	28%	3,138,200	$60,606
8	Orange County, CA	26%	3,050,400	$71,884
9	San Jose, CA	25%	1,854,300	$85,677
10	Riverside-San Barnadino, CA	25%	4,287,600	$53,365

Many factors can make a housing rental market difficult to negotiate, such as tight supply and fierce competition for the most desirable properties. But chief among potentially problematic rental factors is the cost. To get an indication of how stretched renters are in each market, the data team at John Burns Real Estate Consulting looked at the rent-to-income ratios in 40 major U.S. cities.
The resulting list is particularly heavy with representatives from one state. And while it might not be the argument-ender on where it's the most difficult to find a rental, it can speak to the costliness of these 10 markets.

Job vacancies

Jobs employers can’t fill – CNBC

1. Repair Technicians
2. Leisure & Hospitality workers
3. Administrative Assistants
4. Scientific Researchers
5. Accountants
6. Machinists
7. Nurses
8. Laborers
9. Software Developers
10. Truck Drivers

Although the employment picture is improving, the job market can hardly be described as robust, and many Americans still feel they can’t find work. Despite the common perception about a lack of work, however, there are jobs that employers can’t seem to fill.

The reasons are many. Applicants may lack training, demand for specific skill sets may outpace supply, and the jobs may not pay enough to constitute a step up from unemployment benefits. Whatever the reason, jobs in many major sectors of the economy, including retail, manufacturing and business services, are going unfilled.

Using data from the Bureau of Labor Statistics and the ManPowerGroup employment agency, as well as comments from employers and other placement firms, CNBC.com has compiled a list of jobs that are in demand. Read ahead to see them.

By Daniel Bukszpan – Posted 12 March 2012

Jobs numbers not quite so rosy

Could the rosy Jobs numbers be a false spring? – US News, Meg Handley

After several months of encouraging jobs reports, one might be tempted to get a little comfy and think the job-creating cogs of the country's economic engine might finally be getting a little grease.

After all, both January and February's jobs report showed employment gains upwards of 200,000 jobs, a far cry from the dismal numbers seen in the latter part of 2011.

But that's just the problem, according to some experts. The employment picture in the early months of 2012 is looking a lot like it did a year ago, and many of the same characteristics--high gas prices and unrest in the Middle East--are present as well.

Is the country in for a hard landing when March and April's employment figures come out? It's too soon to say, says Guy LeBas, chief fixed-income strategist at financial-services firm Janney Montgomery Scott, but there's certainly concern among economists that the budding optimism for a stronger jobs recovery in 2012 could be short-lived.

Stock market’s false hope

Did we jump the gun on this Economic Recovery?

Not so fast. Those that are publicly declaring that an economic recovery has arrived are ignoring a whole host of numbers that indicate that the U.S. economy is in absolutely horrendous shape. The truth is that the health of an economy should not be measured by how well the stock market is doing. Rather, the truth health of an economy should be evaluated by looking at numbers for things like jobs, housing, poverty and debt. Some of the latest economic statistics indicate that unemployment is getting a little bit worse, that the housing market continues to deteriorate, that poverty in America continues to soar and that our debt problem is worse than ever. If we were truly experiencing the kind of economic recovery that the United States has experienced after every other post-World War II recession we would see a sharp improvement across the board in most of our economic statistics. But that simply is not happening. Sadly, this is about as much of an “economic recovery” as we are going to get because soon the economy will be getting much worse. So enjoy this period of relative stability while you can.

Read rest of article on Economic Collapse Blog

What unemployment figures indicate

What’s the truth about the unemployment numbers? – FoxNews

The recent sudden drops in both initial unemployment insurance claims and unemployment rates have generated a slew of positive news stories and lifted White House spirits. Fox News contributor and former Clinton pollster Doug Schoen even writes about the “high-fiving in the White House.”

But other numbers show a much weaker job market and economy; the average unemployment duration remains near its all-time high, hiring is stuck near record lows, and there are almost 3 million workers in part-time rather than full-time jobs. Further, GDP grew just 1.7% last year and few new companies are being started.

So which scenario is right?

Most affordable cities in US

America’s most affordable cities – Morgan Brennan, Forbes

#		Asking Price	Salary	Cost of Living	Unemployment
1	Omaha, NB	#9	#43	#5	#1
2	Buffalo, NY	#2	#47	#1	#12
3	Detroit, MI	#1	#15	#2	#48
4	Indianapolis, IN	#7	#31	#4	#24
5	Cincinnati, OH	#4	#25	#6	#32
6	Pittsburgh, PA	#5	#41	#9	#13
7	Minneapolis, MN	#28	#17	#19	#5
8	Cleveland, OH	#6	#34	#3	#27
9	Oklahoma City, OK	#8	#50	#10	#4
10	Houston, TX	#20	#5	#29	#19
11	Raleigh, NC	#29	#11	#24	#14
12	Columbus, OH	#13	#37	#8	#21
13	Kansas City, MO	#12	#30	#13	#25
14	Dallas, TX	#22	#13	#30	#17
15	Tulsa, OK	#11	#44	#12	#16

Behind The NumbersWhat do we mean by a bargain? The Merriam-Webster Dictionary defines it as an "advantageous deal." On that score Omaha qualifies, thanks to a list-leading combination of affordable real estate and a healthy ratio of income to living costs.

To compile our bargain city list, we started with the 50 largest U.S. Metropolitan Statistical Areas (MSAs) and then compiled a mix of data aimed at handicapping the overall affordability of living in each.

We looked at the current median asking price of homes on the market in each city, using data from Altos Research, a San Francisco-based real estate research firm. We got the median salaries of workers with bachelor's degrees or higher from PayScale.com and compared it to a cost-of-living index from Moody's Economy.com (the cost-of-living index factors in transportation, insurance, food, utilities and other factors). Finally, we factored in the latest unemployment rates from the Bureau of Labor Statistics to reflect the relative strength of local economies

Biggest holders of US Government Debt

The Biggest Holders of US Government Debt – CNBC

#
1	Federal Reserve & Intragovernmental Holdings	$6.328t
2	China	$1.132t
3	Other Investors / Savings Bonds	$1.107t
4	Japan	$1.038t
5	Pension Funds	$842.2b
6	Mutual Funds	$653.5b
7	State & Local Governments	$484.4b
8	UK	$429.4b
9	Depository Institutions (Banks,etc)	$284.5b
10	Insurance Companies	$250.1b
11	Oil Exporters (Ecuador,Venezuela,Indonesia,Bahrain,Iran,Iraq,Kuwait,Oman,Qatar,Saudi Arabia,UAE,Algeria,Gabon,Libya,Nigeria)	$232b
12	Brazil	$206.4b
13	Caribbean Banking Centers (Bahamas,Bermuda,Cayman,Dutch Antilles,Panama,British Virgin Islands)	$185.3b
14	Taiwan	$149.6b
15	Switzerland	$113.9b

As the U.S. government spends an unprecedented amount of money to fix the economy, there is an equally great need to raise the cash to pay for it. This is accomplished through borrowing, whereby Uncle Sam sells Treasury securities of varying maturity.

For investors, government bills, notes and bonds are considered safe because they have a guaranteed rate of return, based on faith in future U.S. tax revenues. The government has been partially funding operations via Treasury securities for decades.

This borrowing adds to the national debt, which has recently surpassed $15 trillion and is rising every second. The amount of debt is quickly approaching the federal debt ceiling, a legal limit to borrowing that currently stands at $ 16.4 trillion.

Much of that debt is held by private sector, but about 40 percent is held by public entities, including parts of the government. Here's who owns the most. Foreign countries listed include private and public investors, according to monthly U.S. Treasury data.

By Paul Toscano, Updated 31 Jan 2012

Jim Rogers: US Gov hiding inflation

CNBC interview video : Jim Rogers ~ "They're lying to us again"

IMF: Global outlook is gloomy

Lagarde: No country economy immune from rising risks – BBC

IMF head Christine Lagarde has said the world economic outlook is "gloomy" and no country is immune from rising risks.

Impact of Eurozone crisis

5 ways the eurozone crisis could impact you – Michael Estrin

European debt crisis: great impact

European Debt Crisis: You haven’t seen anything yet – Jeff Cox, CNBC

Fed: US Recession possible in 2012

Likelihood of US Recession in 2012 tops 50 Percent: Fed Paper – HuffPost